New Delhi, Dec 2: While the deadlock in Parliament continues over the issue of demonetisation, two House panels have issued calls to Reserve Bank of India (RBI) Governor Urjit Patel, along with Economic Affairs Secretary Sashikanta Das and Financial Services Secretary Anjuly Chib Duggal. The Parliamentary committees have sought explanations regarding the impact of demonetisation on ‘monetary policy’ of the Centre. Both the panels – Standing Committee on Finance and Public Accounts Committee (PAC) has officially sent the calls to the RBI Governor and the Secretaries.
The Standing Committee on Finance is being headed by veteran Congress leader and former cabinet minister M Veerappa Moily. PAC is being led by another Congress stalwart K V Thomas. The Standing Committee on Finance, on Wednesday, decided to call Urjit Patel to examine the impact of note ban on monetary policy. On Thursday, PAC issued a call to Sashikanta Das and Anjuly Chib Duggal. The members of House panel have been asked to submit their questions in writings.
Within the PAC, Indian Express reported that it was Shantaram Naik of Congress who first pitched the idea of calling the RBI Governors and Secretaries. As of now, it is not clear whether the discussions would be focussed around the complete monetary policy or only the impact of demonetisation on the monetary policy. Biju Janata Dal (BJD) MP Bhartruhari Mahtab opined that the entire monetary policy should be discussed. His idea is reportedly being supported by the ruling BJP members.
As the demonetisation drives enter into the 23rd day, Opposition and Government are still at loggerheads. The cash crunch in the market is still evident. Queues outside banks escalated on Thursday, with the pay day arriving. Several members of the salaried class and pensioners approached the banks on Friday to withdraw cash.